Global Indemnity Group (NASDAQ:GBLI) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note released on Thursday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 0.3 %

NASDAQ GBLI opened at $33.00 on Thursday. The firm has a market capitalization of $448.80 million, a price-to-earnings ratio of 13.31 and a beta of 0.43. The firm’s 50 day simple moving average is $31.43 and its 200 day simple moving average is $31.15. Global Indemnity Group has a 1 year low of $26.50 and a 1 year high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. The firm had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. On average, equities research analysts forecast that Global Indemnity Group will post 2.71 earnings per share for the current year.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently added to or reduced their stakes in GBLI. Innealta Capital LLC acquired a new stake in Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. boosted its position in Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after buying an additional 19,830 shares in the last quarter. Boston Partners acquired a new stake in Global Indemnity Group in the first quarter valued at approximately $2,488,000. Finally, Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the fourth quarter worth $3,562,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.